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Deals Of The Day: The Latest In Wealth Management M&A – Janus Henderson, Richard Bernstein Advisors
Editorial Staff
26 January 2026
Janus Henderson, Richard Bernstein Advisors Founded in 2009 by Richard Bernstein, RBA is an investment manager focused on longer-term investment strategies, overseeing about $20 billion in client assets. Bernstein has over 40 years of experience on Wall Street, including as chief investment strategist at Merrill Lynch & Co, the firm said in a statement. RBA provides its clients with differentiated asset allocation solutions that are rooted in the firm’s intellectual capital. Bernstein, who will join Janus Henderson as global head of macro and customized investing, will enter into a multi-year agreement with the company to lead the next phase of RBA’s growth. The acquisition will enable Janus Henderson to enhance its position in model portfolios and SMAs. At the completion of the transaction, Janus Henderson said it will rank among the top 10 model portfolio providers in North America, placing it at the forefront of an industry that is well placed for growth. In addition, RBA’s expertise in model and SMA distribution will allow Janus Henderson to strengthen its distribution capabilities, including with wirehouses and Registered Investment Advisors . Piper Sandler & Co served as exclusive financial advisor to RBA. Vedder Price acted as legal counsel to RBA and Sheppard, Mullin, Richter & Hampton acted as legal counsel to Janus Henderson.
New York-listed Janus Henderson, an asset manager with about $484 billion in assets under management, has entered into a definitive agreement to acquire 100 per cent of New York-headquartered Richard Bernstein Advisors , a macro multi-asset investment manager. The acquisition positions Janus Henderson as a model portfolio and separately managed account provider. The financial terms of the transaction, which is expected to close in the second quarter of 2026, were not disclosed.